Shiba Inu's trading volume surpassed $50 million as the cryptocurrency faced critical resistance.
The price of SHIB dropped from $0.00000627 to $0.00000594 in recent sessions, according to market data.
A net outflow of 51.7 billion SHIB was reported, with reserves declining by 0.6%.
Market participants are now watching to see if the price will break through the $0.00000600-$0.00000620 band.
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